What is CRM
Customer Relationship management is an enterprise approach to understanding and influencing customer behavior through meaningful communication in order to improve customer acquisition, customer retention, customer loyalty, and customer profitability. CRM’s goal is to increase the opportunity by improving the process to communicate with the right customer, providing the right offer (product and place), through the right channel, at the right time1.
1.1.CRM Process
Customer relationship management (CRM) is iterative process that turns customer data into customer loyalty through four activities:
1.Collecting customer data;
2.Analyzing the customer data and identifying target customers;
3.Developing CRM programs;
4.Implementing CRM programs2.…